Unibet pleased with underlying growth

Unibet delivered its first quarter results reporting a drop in gross winnings revenue, the result affected by currency exchange fluctuations.

The company said underlying organic growth in gross winnings revenue was more than 15 percent if considered in a constant currency.

Key performance highlights for the quarter included:

Gross winnings revenue of GBP 76.1 million (Q1/2014: GBP 76.5 million).

If reported in SEK, gross winnings revenue for the quarter would have amounted to SEK 960.1 million (Q1/2014: SEK 818.5 million) million, a growth of more than 17 percent and more than 20 percent excluding Kambi.

EBITDA of GBP 14.4 million (Q1/2014: GBP 21.3 million).
Profit from operations of GBP 11.3 million (Q1/2014: GBP 16.6 million).
Profit before tax amounted to GBP 11.3 million (Q1/2014: GBP 16.5 million).
Profit after tax amounted to GBP 10.0 million (Q1/2014: GBP 15.3 million).
Earnings per share for the first quarter of 2015 were GBP 0.351 (Q1/2014: GBP 0.544).
Active customers increased to 612 269 (Q1/2014: 552 338).
All time high in customer deposits of 12 percent in GBP and 24 percent in constant currency.
Sports betting turnover up 17 percent in GBP and 30 percent in constant currency.
Strong growth in mobile, the channel now accounts for 48 percent of gross winnings revenue.
28 percent of gross winnings revenue derived from locally regulated markets.”

“In the period up to 26 April, daily average gross winnings revenue in constant currency was around 4 percent higher than in the first quarter 2015. Underlying activity continues to develop extremely positively, with sports betting turnover up 22 percent in GBP (39 percent in constant currency) compared to the same period in 2014”, said Henrik Tjärnström, chief executive officer of Unibet.

In related news, sports betting provider Kambi’s quarterly results delivered a 47 percent increase in turnover and a 29 percent increase in revenue.

Performance indicators include:

Revenue amounted to Euro 10.0 million (Q1/2014: 7.7 million), an increase of 29 percent.
Operating profit (EBIT) was Euro 0.8 million (Q1/2014: Euro -0.1 million), with a margin of 8 percent (-1 percent)
Profit after Tax amounted to Euro 0.6 million (Q1/2014: Euro -0.3 million)
Earnings per share were Euro 0.020 (Q1/2014: Euro -0.017)
Cash flow from operating and investing activities (excluding working capital) amounted to Euro 1.0 million (Q1/2014: Euro 0.0 million)

“We are positive about regulatory changes in the Italian market and the opportunities they give us, as we prepare the launch of a premium offering compliant with the new regulation. We continue to strengthen our sales team and are in a number of ongoing discussions with potential customers”, commented Kristian Nylén, chief executive officer of Kambi.

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